Nasdaq-listed cryptocurrency exchange Coinbase has received regulatory approval to offer crypto services in Italy. “Coinbase is committed to bringing the power of our entire product suite to customers across Europe,” the company said.
Coinbase Accepted in Italy
Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced on Monday that it has received regulatory approval to provide crypto services in Italy.
The company’s vice president of international and business development, Nana Murugesan, explained in a blog post:
Today, we have been able to announce an important milestone … receiving approval from Italian regulators to provide ongoing crypto services to its residents.
“The new requirement, implemented by Organismo Agenti e Mediatori (OAM), mandates that all companies offering crypto trading, custody or other services meet set criteria,” the executive described.
“Coinbase serves customers in approximately 40 European countries through dedicated centers in Ireland, the UK and Germany,” elaborated Murugesen, “Coinbase is committed to bringing the power of our full product suite to customers across Europe. ” The Vice President continued:
We are in the process of strengthening our presence across Europe and have registration or license applications in progress in several key markets in compliance with local regulations.
“In each of these markets, we aim to grow our customer base by launching the Coinbase suite of retail, institutional and ecosystem products,” Murugesan explained.
Coinbase announced its European expansion plans last month. Murugesan revealed at the time that the company was in the process of expanding into France, Italy, Spain and the Netherlands.
However, the Nasdaq-listed crypto exchange is not the first major trading platform to receive regulatory approval in Italy. In May, rival crypto exchange Binance said that it has received regulatory approval to offer crypto products in the country.
What do you think about Coinbase receiving regulatory approval to offer crypto services in Italy? Let us know in the comments section below.
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